In this episode, we embark on a data-driven exploration of India's GST since its inception in 2017. As of June 2023, GST has completed 6 years, so, we thought of analyzing the GST data. As we navigate through the twists and turns, starting from the early challenges and leading up to the present state of affairs. Our exploration unveils the connection between how the economy grows, the way taxes are structured, and how policies are put into action. We'll take a closer look at how GST has impacted different aspects of India's economy, from giving smaller businesses a boost in the formal sector to understanding the complexities of indirect taxes. But here's the big question: Has GST really made a significant difference in increasing tax revenue, or are we still standing where we were before GST came into the picture? If you're curious about the answer, then keep those ears tuned in because we're about to unfold the story. So, are you ready to explore the world of GST with us? Keep listening to find out. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

If you think that mixing drinks is meant for humans alone, then you might be wrong. Well, humans have developed cocktails for our vehicles too and they are called biofuels. Although the name is too boring for cocktails, they are very fancy. One of the biofuels is named ethanol-blended petrol. The recipe is simple: mix ethanol and petrol in a ratio of 10:90. USA and Brazil are at advanced stages where they are mixing more than 50-80% ethanol. India is in third place globally when it comes to ethanol production. And we are progressing at a rapid pace. India has a natural advantage in it as it is one of the top producers of sugarcane. And Ethanol is sugarcane’s by-product. If we become successful in blending more and more ethanol each year, then our dependence on oil will start declining. We all know that we import millions of barrels of oil per day, and we also know that oil is a finite resource. So, mixing ethanol can make us more self-reliant and also increase farm incomes by making a byproduct more valuable. So, what is India’s Ethanol policy? Where are we heading towards? You can know all this in this episode. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

When we think of exports the thing that comes to our mind is goods – phones, televisions, machinery, oil, plastics, cars etc. We think of huge ships through which goods are transported across countries. Even the government policy is largely focused on goods exports. However, it is services exports where India is having the most traction. Services exports have been consistently growing faster than goods exports for more than two decades now and thus services exports have grown relative to goods exports. While India is the 18th largest exporter of Goods, it is the 7th largest exporter of services. Will our services exports be larger than goods exports? Are there any countries currently which have higher services exports? Is our composition of services more or less concentrated relative to other countries? That and more in this episode of DataSpot. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

Every year in May, we stumble upon one piece of news and that is - when and how much will it rain this monsoon season? If it rains less, we face issues like farmers’ distress, lower levels of water reservoirs, inflation, etc. But if it rains more, all the infrastructure fault lines erupt. Right now, we are at a time when monsoon has begun but was delayed. Many people believe that deficient, surplus or abnormal rains can pull down the agriculture GDP. It is obvious and commonsensical to believe that this could be true. Although this might be true at the regional level or for a crop-specific output, it is not true at a macro level. Surprised? Well, we will refute this assumption in this episode. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

Do you prefer investing in Nifty Index/ETFs instead of specific stocks? Are you a person who is always searching for sectoral or thematic Index Mutual Funds or ETFs? Passively managed funds such as ETFs and Index funds are becoming very popular not just globally but in India. Did you know that out of the total mutual fund AUM (assets under management), 16% of it is in the passive form in India? And 40% in the USA? What are the reasons for the growing popularity of passive funds? It is not just institutional money that is driving this growth but retail investors are also investing into these passively managed funds. Of the 10 biggest mutual fund schemes in India, 5 are passively managed funds. And passively managed funds are not just about stocks, you can use passive funds to invest in the debt market too! In this episode of the DataSpot Podcast, we discuss the growth of passive funds in India and leave you with a few things to think about. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

Once upon a time, Japan was growing at a rapid pace. It was an export powerhouse too. In the '80s, its export share crossed 10% of global exports. Now, things have changed. It has been caught in many socio-economic problems that hinder its growth. Its export engine no longer outpaces others. Its share in global exports has fallen to just 3% in 2022, even lower than it was in the 1960s! The country now runs a trade deficit. But still, the country runs a large current account surplus. Sustained low interest rates have meant that the country is now one of the largest exporters of capital in the world. Often neglected, the primary income balance component from the balance of payments, has been more than offsetting the rising trade deficit. But when and how did it happen? That and more in this episode of DataSpot Podcast. Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

India’s central government presents the Union Budget every year before the Parliament closer to the end of a financial year. It publishes how much it expects to earn through taxes and other means and how much it plans to spend on salaries, infrastructure, social development and other categories in the next financial year. We have seen many times that the actual results are different from the budgeted estimates. Another aspect of the Union Budget is that it becomes an event. Loads of commentary in newspapers, TV channels and social media follow as soon as the finance minister starts the speech, and it goes on and on for the entire week. But have you seen such enthusiasm during the state budgets? Well, we need more analysis of state budgets because states spend a lot more than the central government, especially on development programmes. That’s why we raise these questions: 1. Are budgeted numbers of the Union Budget credible enough? 2. How do states earn and spend money vis-a-vis the central government? Follow: IndiaDataHub - https://www.indiadatahub.com, Linkedin - /indiadatahub, Twitter - /IndiaDataHub Ashutosh, Co-founder of IndiaDataHub - LinkedIn - /ashutoshdatar, Twitter - /adatar Swapnil, Host - LinkedIn - /swapkar, Twitter - /Swap_Kar Anisha, Co-host - LinkedIn - /anisha0724 Feedback/queries/suggestions on podcast@indiadatahub.com

Have you ever bought an imported perfume or an electronic gadget or a bottle of rare whiskey from a different country? You would have read a news of FIIs selling their India portfolio which affected stock markets. You might also be working in an MNC. There is also a chance that you are investing in US stock exchange by clicking a few buttons on your broking app.  What do these examples tell us? Where do they get accounted? How to see if we are doing good or not? And what exactly is good and bad in these transactions?  That’s what we are going to talk about today. These are all a part of balance of payments or BOP.  Sources and Further Reading: RBI's Balance of Payments Manual Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Dwiti, Co-host - LinkedIn and Twitter Feedback/queries/suggestions on podcast@indiadatahub.com

MSP - Minimum Support Price, is a tool used by the government to protect farmers from falling prices of commodities. In this episode, we discuss what is the nature of agricultural business, what is the role of MSP, how MSP is calculated for different crops and whether MSP procurement has been successful or not. It is important to understand the nitty-gritties of this mechanism to analyse the overall farming system in the country. Sources and Further References: MSP, Wikipedia MSP, Civilsdaily Report of the Committee on Doubling Farmers’ Income Evaluation Study On Efficacy of Minimum Support Prices (MSP) on Farmers, NITI Aayog Impact Of Minimum Support Prices On Agricultural Economy, ISEC All about MSP and the demand for a legal backing Cabinet approval of MSP for Rabi Marketing Season 2023-24  Cost Concepts Manual on Cost of Cultivation Surveys Dept of Food & Public Distribution, Annual Report FY22 Revised MSPs still about 47% lower for most of the 14 crops under scheme: Report - The Economic Times Price Policy for Rabi Crops Marketing Season 2023-24 Price Policy for Kharif Crops Marketing Season 2022-23 MSP and Public Procurement Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Dwiti, Co-host - LinkedIn and Twitter Feedback/queries/suggestions on podcast@indiadatahub.com

In the previous episode we understood what is GDP. Now, let us understand how to interpret the data? But before that we should understand what different types of GDP data gets released? Why it takes three years to finalise the GDP data? How to interpret the data revisions?  In this episode we also tell you how the GDP data is calculated. Honestly, it is complicated!  We also know that half of India's GDP relies on unorganised sector. But we don't know exact GDP of unorganised sector. Do you want to know how the GDP of unorganised sector is calculated? Well, then we have explained it too in this episode.  GDP calculation, in general, involves some hard-core observable data, but most of the times it includes approximations, proxies and modelling. Therefore, its process, interpretation as well as use-case differs from that of something like inflation data.  We have heard experts contesting over few decimal point growth rates in GDP data. Is such in-depth analysis really necessary? We cover that as well.  So, in short, this is a compact package on how to interpret the GDP data. Give it a shot and let us know your feedback. Sources and Further References: 1. NAS Sources and Methods 2012  2. Measuring Informal Economy in India _ Indian Experience, By S V Ramana Murthy 3. Methodology for Estimating Quarterly GDP 4. Understanding the New Series of National Accounts  5. Changes In Methodology And Data Sources In The New Series Of National Accounts  6. Chp 13 - National Account Statistics - National Statistical Commission 7. Notes On Methodology And Revisions In The Estimates 8. Measuring informality, ILO 9. Press Note First Revised Estimates Of National Income,  Consumption Expenditure, Saving And Capital Formation, 2020-21 10. Studying revisions in Indian GDP data, Ideas for India Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Dwiti, Co-host - LinkedIn and Twitter Feedback/queries/suggestions on podcast@indiadatahub.com

GDP is the most famous economic measure. Economists have a love affair with it, finance enthusiasts like to watch it, politicians like to talk about it when it grows but not otherwise and people at large, just see it in news sometimes and then forget most of the times. In this episode, we talk about what is GDP, who created this metric, the different measures of GDP and much more. Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Dwiti, Co-host - LinkedIn and Twitter Feedback/queries/suggestions on podcast@indiadatahub.com

We have talked about inflation in the last three episodes. We cannot finish talking about inflation without mentioning the role of interest rates. They are joint at the hip.  We have seen RBI or for that matter most central banks in the world changing interest rates as the inflation level changes. Once these interest rates are changed, interest rates on our home loan or vehicle loan or working capital loan also changes. Why does that happen? What is the mechanism through which a change in interest rate by the RBI, transmits to our home loan or auto loan? We navigate you through this entire process in this episode.  Sources and Further Information: RBI's Functions and Working - Monetary Policy and Market Operations Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Anisha, Co-host - LinkedIn Feedback/queries/suggestions on podcast@indiadatahub.com

Of what use is this high-frequency inflation or price data?  The most common use case for the inflation data is of course to gauge the future direction of interest rates. But there is more to inflation or price data than just interest rates. Because prices for different sets of people move differently based on their consumption or production basket and prices of different categories of goods and services move differently, price data allows us a deeper insight into an economy. It allows us to gauge which parts of the economy might be facing a demand-supply mismatch, and which parts of the economy might be seeing better profitability or growth. It may also hint towards some structural bottlenecks in some sectors of the economy.  This and more in this episode. Give it a listen... Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Anisha, Co-host - LinkedIn Feedback/queries/suggestions on podcast@indiadatahub.com

We discuss how inflation, especially the Consumer Price Index (CPI) is calculated in India; how India's statistical body undertakes surveys in different villages and cities; how it compiles disparate data points and arrive at an average value of inflation within 2 weeks of month having ended; why we should not become cynical of the data; and so on and so forth...  Interested in knowing some BTS (behind the scenes) moments of CPI? Tune in to this episode where we demystify inflation calculation for you. Sources and Further References: 1. CPI - Changes in Revised Series, Base Year 2012, MOSPI 2. Report of the Group of Technical Advisory Committee on Statistics of Prices and Cost of Living, National Accounts Division 3. Manual on Consumer Price Index, Base Year 2010, MOSPI Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Anisha, Co-host - LinkedIn

If someone asks you what is the inflation level in India right now, what would be your answer? There's no single right answer because it depends on what data you are looking at as well as the context. In this episode, we introduce one of the hottest topics in economics i.e. inflation, in a different way which will help you appreciate the number, its context and what it actually means, slightly better. Transcripts of the episode will be available soon on IndiaDataHub's website. Sources and Further References: CPI Data, IndiaDataHub WPI Data, IndiaDataHub India GDP Deflator, World Bank RBI's Inflation Expectations Survey, RBI  Follow: IndiaDataHub - Official Website, LinkedIn and Twitter Ashutosh, Co-founder of IndiaDataHub - LinkedIn and Twitter Swapnil, Host - LinkedIn and Twitter Anisha, Co-host - LinkedIn

In this introductory episode, we set the context for this Podcast series. We talk about why we are doing this podcast and what you should expect in the subsequent episodes. While this podcast will be about economic data, we will (hopefully) not bore you with economic theory or concepts. Rather we are interested in the practicalities of data and concepts. We want to explain how the data comes into being, what are its limitations and practical relevance.